Foster & Motley Inc. Buys New Holdings in Pacira BioSciences, Inc. $PCRX

Key Points

• Foster & Motley bought 57,817 shares of Pacira BioSciences worth approximately $1.47 million, while institutional investors collectively own 99.73% of the company.
• Pacira insiders sold shares through pre-arranged Rule 10b5-1 plans, including sales by SVP Lauren Riker and insider Jonathan Slonin. Insiders retain a 6.40% ownership stake.
• Analyst sentiment is mixed, with an average rating of Hold and an average price target of $30.20. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.73 in EPS and $192.4 million in revenue.

Foster & Motley Inc. bought a new position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 57,817 shares of the company's stock, valued at approximately $1,467,000. Foster & Motley Inc. owned 0.15% of Pacira BioSciences at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Impax Asset Management Group plc lifted its holdings in shares of Pacira BioSciences by 25.0% during the 4th quarter. Impax Asset Management Group plc now owns 750,027 shares of the company's stock worth $19,411,000 after acquiring an additional 150,000 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Pacira BioSciences in the fourth quarter valued at about $7,976,000. Gagnon Advisors LLC increased its stake in Pacira BioSciences by 22.3% in the fourth quarter. Gagnon Advisors LLC now owns 260,908 shares of the company's stock valued at $6,752,000 after acquiring an additional 47,506 shares during the period. LSV Asset Management raised its position in Pacira BioSciences by 179.8% in the fourth quarter. LSV Asset Management now owns 319,800 shares of the company's stock worth $8,276,000 after purchasing an additional 205,500 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position in Pacira BioSciences by 31.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 203,520 shares of the company's stock worth $5,163,000 after purchasing an additional 48,124 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company's stock.

Insider Buying and Selling

In other news, SVP Lauren Riker sold 6,115 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the transaction, the senior vice president directly owned 62,284 shares of the company's stock, valued at $1,463,674. The trade was a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the sale, the insider owned 216,384 shares in the company, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC lifted their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. HC Wainwright reissued a "buy" rating and issued a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Truist Financial assumed coverage on Pacira BioSciences in a report on Monday. They issued a "buy" rating and a $30.00 target price for the company. Wall Street Zen downgraded Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Finally, Royal Bank Of Canada boosted their price target on Pacira BioSciences from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pacira BioSciences currently has an average rating of "Hold" and an average price target of $30.20.

Pacira BioSciences Trading Up 1.5%

Shares of Pacira BioSciences stock opened at $24.36 on Thursday. Pacira BioSciences, Inc. has a 12-month low of $18.80 and a 12-month high of $27.66. The stock has a market capitalization of $970.99 million, a P/E ratio of 69.60 and a beta of 0.27. The company has a 50-day simple moving average of $24.84 and a 200 day simple moving average of $23.63. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. The firm had revenue of $192.40 million for the quarter, compared to analyst estimates of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. Research analysts expect that Pacira BioSciences, Inc. will post 1.98 earnings per share for the current fiscal year.

Pacira BioSciences Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company's flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.

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